“Under a California law dating back to 1872, any person who finds lost property and knows who the owner is likely to be but “appropriates such property to his own use” is guilty of theft. If the value of the property exceeds $400, more serious charges of grand theft can be filed. In addition, a second state law says that any person who knowingly receives property that has been obtained illegally can be imprisoned for up to one year.”

Apple also sent a legal letter asking for their lost iPhone. Here is the letter from Gizmodo:

This “leaked” iPhone 4G is just a prototype. There is no proof that it is the final product.